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Technology is reaching many hands and it has become part of our lives. But, the consequences of the vulnerabilities involved put us at risk as well. Most of the companies are focusing much on collecting the essential data for their business rather than protecting it. Cyber Security breach is the reason for downfall of many companies. Yahoo falls first under this category which exposed 500 million people’s data.
One of the recent breaches that is worst to imagine is “Equifax data breach”. Equifax is one of the top three credit reporting agencies in United States. Highly sensitive information of the customers is being collected and is expected to be highly secured. Thus it is famous for involving in the computer security activity. But, unfortunately it is revealed that personal data of 143 million U.S citizens was hacked, which means half of the country’s population personal data was compromised. The data that was hacked includes names, addresses, birthdates, Social Security Numbers (SSN) which is like a PAN card number in India, Drivinglicense numbers. Security questions and answers which are set to verify the person’s identity are also exposed which is not even safe if the passwords are changed.
Even if the person request’s the government for change of SSN it is hardly done in very rare situations. Even the new SSN that is generated will be linked with old SSN which is not either secured. Since, the SSN and other sensitive data is being hacked, new credit accounts may be opened, new purchases and loans are taken on one’s identity.
Company has identified the security breach on July 29, 2017 but was started in May. In these 45 days, the company did not take any counter measures and still not yet explained the reason for the delay. Before disclosing this issue to the public, the company has sold its shares worth $1.8 million.
"This is clearly a disappointing event for our company, and one that strikes at the heart of who we are and what we do. I apologize to consumers and our business customers for the concern and frustration this causes," said the company’s CEO Richard F. Smith.
Previously it was Wanna Cry Ransomware, now Equifax security breech 2017 attack .Although your data is being exposed or not, it is highly essential to protect yourself. Hackers may not use the data right now but, may find their own appropriate time to use it. So, let us all be aware of precautions that are required.
The only option for one to protect themselves is to put a credit freeze on their accounts. This means new accounts cannot be opened by any chance even by yourself. If at all you wish to open a new account that can be done only when you go by person.
Yes this true…!!!! Do not sign up for any additional offersthat are offered by the company that states it will verify the credit file? This means the company is trying to take advantage of the breach.
There may be other scams done by trying to take advantage of this situation. You may receive fake emails and phone calls asking for personal information and trying to convince you to let you know whether your account has been hacked or not.
Hope every company will take its responsibility to maintain the data bases highly secured and educate its customers about various scams and build trust among them. This will help the organization to evolve in its operations. Government should also make proper laws to enforce that every organization is claiming appropriately.
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